Current Attempt in Progress

Sheridan Inc. is considering the purchase of a new machine for $$517660.$ It is expected that the equipment will generate annual cash inflows of $$118000$ and annual cash outflows of $$46500$ over its $10$ year life. Annual depreciation is $$59000.$ Compute the cash payback period.

$4\mathrm{.}39$ years.

$8\mathrm{.}77$ years.

$7\mathrm{.}24$ years.

$3\mathrm{.}97$ years.